Spyrosoft’s General Meeting of Shareholders has confirmed the plan to enter the WSE Main Market
Spyrosoft is a dynamically growing Polish company that offers comprehensive software development services. It provides solutions to companies from Poland, Europe and the USA, and has a highly diversified portfolio of clients from 5 specialized industries.
As announced, on June 23, Spyrosoft’s General Meeting of Shareholders adopted a resolution on the company’s debut on the WSE Main Market.
“We believe that entering the main market will allow us to become even more recognizable, and the group of investors who acknowledge the company will increase significantly,” says Konrad Weiske, CEO of Spyrosoft. “We are working on the prospectus that will be submitted to the Polish Financial Supervision Authority. After its approval, we will be able to apply to the Stock Exchange for admission to listing on the main market,” he adds.
The GMS also adopted a resolution on the distribution of profit for 2020. The entire standalone profit in the amount of PLN 8,667,184.43 was allocated to supplementary capital, as the company continues to dynamically develop and wants to be prepared for further investments.
The GMS also adopted a resolution on the issue of 21,162 series F shares for the purposes of the incentive program. Spyrosoft, operating in a very competitive labor market, wants to bind key people with the company even stronger.
The company offers comprehensive project management services, under which Spyrosoft specialists manage projects and project requirements, create architecture, as well as write and develop software. They implement solutions using public clouds and advanced technologies such as Artificial Intelligence (AI) or Mixed Reality.
The company was founded in 2016 and has been dynamically developing since. In March this year, it was ranked #1 in Europe among technology companies in the Financial Times “FT1000: Europe’s Fastest Growing Companies” ranking. It was fifth in the overall ranking.
The company operates globally – about 80% of its revenues come from contracts with foreign clients, mainly from the UK and Germany. The company cooperates with 75 clients from 6 countries, whose diversified portfolio covers such specialized industries as finance, automotive, industry 4.0, HR and education, geospatial services. Thanks to the knowledge of the industry specificity, Spyrosoft provides its clients not only with the digital product itself, but also with consulting services in the selection of IT solutions best suited to the needs and regulations of a specific industry.
The Spyrosoft Group is currently a group of 617 people, according to the data as at the end of March 2021. The company has offices in Poland (in Wrocław, Białystok, Kraków and Warsaw), UK (in Ferndown), Germany (in Braunschweig and Munich), Croatia (in Zagreb), United States (in Ann Arbor) and India (in Vadodara).
Spyrosoft plans to develop its business and increase its share in selected markets. It intends to achieve high revenue dynamics by acquiring new clients and focusing on companies with high revenue potential. We also want to develop knowledge in the areas in which the company specializes and to increase the number of associates and employees.
Consolidated revenues of Spyrosoft in the first quarter of 2021 amounted to PLN 35.5 million (an increase of over 40% compared to the same period in 2020). The operating profit amounted to PLN 5.3 million (+ 37%). Consolidated net profit increased in the same period to over PLN 4 million (+ 42% YOY).
In 2020, the group’s revenues increased by 58% compared to the previous year, to PLN 112.9 million. The consolidated operating profit amounted to PLN 20 million (+ 167%), with EBITDA at the level of PLN 21.3 million (+ 160%), while the consolidated net profit reached PLN 13.8 million (+ 181%).
For more information, check www.spyro-soft.com or contact us:
tel. 500 202 355